Cardguard up for renewal

johannis

I've just received a letter stating that my cardguard will be renewed automatically and that £74 will be debited from my account.
Is Cardguard absolutely necessary? it seems to me that what it offers should be offered by the bank without me having to pay extra?
Or am i being naive here?

[Deleted User]

Up to you. Pretty overpriced in my opinion. If you keep a track of all your cards and what numbers to ring then you don't need it.

If you find making more than one phone call a struggle or are not sure what you have in your wallet, you may find it useful.

parmavioletuk

Funnily enough I was wondering the same... My card guard renewal came through the post a couple of days ago, and although my charge seems to be about half what they're charging you (thirty-something quid), I still think it's pretty steep and not really necessary. I've only got one credit card and debit card and I'm very careful with both, so I think I'll be contacting Card Guard soon to cancel.

chattychappy

The most a CC can hold you liable for is £50 and then only if this is specifically provided for in the T+Cs.

Can't see the point in the case of CCs.

Buzby

Are they still in business? There was a flurry of these firms back in the day, but steadily they amalgamated (Card Sentinel etc), but with the card firms (Barclays, as I recall) ending their relationship with CG, the writing was on the wall. There's enough free apps available that only require you to enter the relevant data, so if it goes missing, you have all the details to cancel and re-order.

The business model was based on auto renewals, and most folk are fly to this so the writing is on the wall!

Plxply

I've always wondered with the liability for this (I too think it's uselessly overpriced) the terms of your card agreement state you need to inform the issuer if you lose your card/it's stolen. However what happens if you inform CardGuard for example and they fail to inform all your card issuers?

Do you have any legal recourse in your agreement with CardGuard? What if the issuers then have money lost and claim you were negligent by taking so long to inform them (as you assumed CardGuard would inform them).

chattychappy

Plxply wrote: »

the terms of your card agreement state you need to inform the issuer if you lose your card/it's stolen.

The T+Cs are not the be-all and end-all. You are not liable for unauthorised transactions. In the case of a lost card you are limited to £50 under the CCA, whatever the T+Cs say and whatever your negligence.

Plxply wrote: »

However what happens if you inform CardGuard for example and they fail to inform all your card issuers?

You wouldn't have met your requirement to inform them. You wouldn't be negligent though (if that is relevant), as it would be reasonable to rely on such a service (unless you supplied wrong details etc).

Plxply wrote: »

Do you have any legal recourse in your agreement with CardGuard?

You probably would if you've suffered a loss. They might try to exclude such liability by way of exclusion clauses, but they might not be enforceable under the Unfair Contract Terms Act 1977 and other legislation. Afterall, it is very much the essence of the service for them to contact CCs. No clear answer.

Plxply wrote: »

What if the issuers then have money lost and claim you were negligent by taking so long to inform them (as you assumed CardGuard would inform them).

Your liability is limited anyway to £50. If it turned on negligence, then I think you'd be OK (see above).

chattychappy

As a footnote, apart from the expense, I personally would prefer to deal directly with my CC anyway. Using an "agent" to do this work just adds a tier of confusion/complication IMHO.

opinions4u

I wouldn't touch this sort of insurance with a barge pole.

Over priced. Provides little value.

parmavioletuk

I phoned today and cancelled. The lady on the phone was lovely, and there was no hassle at all. I made sure to cancel the Direct Debit too though, just in case...

chattychappy

You mean continuous payment authority (CPA - ie you were to pay by CC)?

Or was the money to be taken from your current account?

DDs come out of current accounts, CPAs out of CC accounts.